# New Bedford Institution for Savings v. Gildroy

> Massachusetts Appeals Court · June 15, 1994 · 36 Mass. App. Ct. 647

URL: https://www.frixlaw.com/law-library/cases/9744676

## Case

- **Full name:** New Bedford Institution for Savings vs. C. L. Gildroy
- **Court:** Massachusetts Appeals Court
- **Decided:** June 15, 1994
- **Citations:** 36 Mass. App. Ct. 647; 634 N.E.2d 920; 25 U.C.C. Rep. Serv. 2d (West) 450; 1994 Mass. App. LEXIS 603
- **Precedential status:** Published
- **Opinion:** Concurrence by Brown
- **Judges:** Brown, Kaplan, Laurence
- **Cited by:** 20 later opinions in the Frix Law Library

## Citator (automated)

- No negative treatment found by the automated citator. That is not the same as a confirmation that the case is good law; read the citing cases.
- Full citator and citing cases: https://www.frixlaw.com/law-library/cases/9744676

## Opinion text

Brown, J.
(concurring). Although I concur in the result reached by the majority, I am hard pressed to accept the notion that in such circumstances as presented here there must be an affirmative showing of “deliberately cultivated ignorance” on the part of the holder. See Schwegmann Bank & Trust Co. of Jefferson v. Simons, 880 F.2d 838, 842 (5th Cir. 1989). I deem TSB’s handling of the loan not “unorthodox” but negligent — plainly contrary to proper banking practices. Here, TSB certainly placed itself, by such an improvident choice, in a precarious position, whereby it was plainly vulnerable to fraud. After saying all that, I concur in the result because an experienced businessman (let alone a Harvard M.B.A.) surely ought to know that he assumes a risk when he “gets into bed” with someone, as well as to know he must first read “what he signs.” Parenthetically, if that imperative was not inculcated firmly at “business school,” he should be entitled to a refund of his tuition.
*659 Finally, I am compelled to point out that the bulk of the work product (i.e., research and analysis) evidenced in this opinion was done by the court. All too often this court is compelled to range far and wide from the parties’ briefs to reach what I believe is the correct and proper legal solution.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/cases/9744676. Public record. Not legal advice.